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China Subsidy Exchange

May 18, 2017

China Boosts the Development of Inclusive Finance

At the State Councils Executive Meeting, which was held on May 3, 2017, the Chinese government pledged to strongly develop inclusive finance in China, to support small and micro-sized firms, agricultural developments, poverty alleviation, entrepreneurship, and innovation. The Meeting mandates large-scale commercial banks to set up inclusive finance department by 2017. The Meeting further requests banks maintain a growth rate of loans for small and micro-sized firms no less than the average growth rate of all loans. The Meeting calls on relevant government agencies to provide policy supports, such as improving preferential taxation policies and issuing preferential credit loan policies for qualified financial institutions, to support the inclusive finance development in China.


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